The poll, to be held on August 24, will decide whether Northern Territory Labor gets a third term or is replaced by the County Liberal Party.
Chief Minister Eva Lawler, 61, has been in the top job for almost eight months, after her predecessor Natasha Fyles resigned when it was revealed she had failed to disclose about $2000 worth of shares in a manganese mine.
The Country Liberal Party's Lia Finocchiaro, 39, became leader in 2020, ahead of the last NT election that year.
Early voting begins on Monday, at the same time as a postal vote mail-out and mobile voting.
The NT election will be held on August 24 with pre-poll voting starting on Monday. (Joel Carrett/AAP PHOTOS)
Voters will select 25 members of the NT Legislative Assembly for fixed four-year terms.
Labor holds 14 seats, the CLP has seven, and the opposition will need to win at least 13 to govern in its own right.
Both parties are moving in similar directions on youth crime, domestic violence, housing and are in lockstep on ambitions to boost the gas industry to lift the NT economy.
According to the pre-election fiscal outlook released on Friday, the NT's forecast budget deficit for 2024/25 has worsened by about $5 million to $415 million since the May budget.
But Labor is still banking on getting back into the black in the next three years, culminating in a surplus of more than $200 million in 2027/28.
The outlook for economic growth remains bouncy, with NT expected to record a modest 2.3 per cent in this financial year, before topping seven per cent in 2025/26.
Costings for the major party's election promises will be released two days before the poll.
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